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A Currency Transaction Tax
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Book Synopsis The Currency Transaction Tax by : Rodney Schmidt
Download or read book The Currency Transaction Tax written by Rodney Schmidt and published by . This book was released on 2008 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Currency Transaction Tax (CTT) is emerging as a leading new financial instrument for government seeking to raise large amounts of global, independent, and stable monies for international development and projects addressing global issues such as public health and climate change. The publication exploits the fact that CTT is functionally equivalent in foreign exchange markets to the bid-ask spread: both are transaction costs. Part I describes the issues and assumptions. Parts II and III explain how to calculate it and the revenue estimates. Finally, Part IV shows the advantages of the CTT.--Publisher's description
Download or read book Good Taxes written by Alex C. Michalos and published by Dundurn. This book was released on 1997-02 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Good Taxes, Alex Michalos puts forth an argument in favour of a financial transactions tax.
Book Synopsis Taxation, Virtual Currency and Blockchain by : Aleksandra Bal
Download or read book Taxation, Virtual Currency and Blockchain written by Aleksandra Bal and published by Kluwer Law International B.V.. This book was released on 2018-11-29 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of convertible decentralized virtual currency schemes confronts tax authorities with unprecedented questions, among them are the status of virtual currency for tax purposes, which virtual transactions may bene?t from a VAT exemption and determining the most optimal method of tax regulation. This ?rst book-length treatment of this major current topic provides an in-depth and comprehensive analysis of the tax implications of virtual currency transactions. Seeking to ascertain whether virtual currency requires additional regulation or whether the law as it stands is adequate to administer its usage, the analysis not only thoroughly explains the nature of the underlying blockchain technology and its regulatory and judicial treatment so far but also identi?es best practices for virtual currency transactions and makes recommendations for the improvement of the existing tax systems. Among the aspects of the phenomenon covered are the following: – particular aspects of virtual currency use such as smart contracts and initial coin offerings; – comparative review of income tax consequences of virtual currency transactions in Germany, the Netherlands, the United Kingdom and the United States; – VAT/sales tax treatment of transactions involving virtual currency in the European Union and the United States; – methodology for creating an effective regulatory framework for the taxation of virtual currency; and – the future of blockchain. The book has three parts and an annex that describes tax regulations, administrative rulings and court decisions concerning virtual currency in twenty countries. In its in-depth analysis of tax implications of virtual currency transactions in major economies, detailed overview of recent tax developments that affect virtual currency transactions and evaluation of tax policies related to virtual currencies, this book has no peers. Especially in view of the OECD's examination of the tax challenges presented by the digital economy as part of its base erosion and pro?t shifting (BEPS) project, this clear and comprehensive explanation of the functioning of virtual currency and blockchain technology will be welcomed by tax administration of?cials and by persons mining and transacting in virtual currencies needing to know their compliance obligations.
Book Synopsis A Currency Transaction Tax by : James Tobin
Download or read book A Currency Transaction Tax written by James Tobin and published by . This book was released on 1994 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The currency transaction tax written by and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The CTT would affect the foreign exchange market by increas- ing the width of the spread. [...] The former figure is the average of the increases in trading volumes of the $/U and the e/U from 2004 to 2007. [...] In the DM e/$ market in January 1999 the spread rose by a full basis point with the introduction of the euro. [...] The usual measure of the variability of the spread is the "standard error", the average deviation of the spread from its own average value, in basis points. [...] The post-tax volume depends on the pre-tax volume (v0), the elasticity of volume with respect to the spread (-0.43), and the percentage increase of the spread due to the tax (1.0/s̄, where s̄ is the average spread).
Book Synopsis International Financial Flows and Transactions Taxes by : Mr.P. Bernd Spahn
Download or read book International Financial Flows and Transactions Taxes written by Mr.P. Bernd Spahn and published by International Monetary Fund. This book was released on 1995-06-01 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tobin has suggested that exchange rate volatility be controlled through a tax on international financial transactions. This analysis shows that the Tobin tax as a pure transaction tax is not viable. The tax would impair financial operations and create international liquidity problems. It is also unlikely to deter speculation. However, a possible alternative would be a two-tier rate structure—consisting of a low-rate transaction tax plus an exchange surcharge. The exchange rate could move freely within a “crawling” exchange rate band, but overshooting the band would trigger a tax on an “externality,” which is the discrepancy between the market exchange rate and the closest margin of the band. The scheme is inspired by the European Monetary System. However, exchange rates would be kept within the target range through a tax, not through interest policy or central bank sterilization and, eventually, the depletion of international reserves.
Book Synopsis Financial Transactions Taxes by : Mr.Parthasarathi Shome
Download or read book Financial Transactions Taxes written by Mr.Parthasarathi Shome and published by International Monetary Fund. This book was released on 1995-08-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial transactions taxes have recently gained attention as a possible means to influence the behavior of financial markets and to reduce destabilizing capital flows. One variation is a tax on all foreign currency conversions, often termed a “Tobin tax.” This paper suggests that these taxes would probably not produce the desired effects and would be difficult to design and implement. It is unclear that the possible advantages in reducing some short-term speculative trading would outweigh the possible disadvantages in impairing the efficiency of financial markets. From an administrative perspective, without a broad international consensus and application, these taxes are likely to be easily avoided.
Download or read book The Currency Transaction Tax written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Ready for Implementation by : Bruno Jetin
Download or read book Ready for Implementation written by Bruno Jetin and published by . This book was released on 2005 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Taxation and Foreign Currency by : Donald R. Ravenscroft
Download or read book Taxation and Foreign Currency written by Donald R. Ravenscroft and published by . This book was released on 1973 with total page 896 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Tobin Tax written by Mahbub ul Haq and published by Oxford University Press. This book was released on 1996-07-11 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his 1972 Janeway Lectures at Princeton, James Tobin, the 1981 Nobel Prize winner for economics, submitted a proposal for a levy on international currency transactions. The idea was not greeted with enthusiasm, as the 1970s were a period of optimism and confidence in floating exchange rages. Yet, whenever currency crises erupted during the past decades, the proposal for a levy on international currency transactions would once again arise. In the 1990s, two additional facts have sharpened interest in the Tobin tax proposal. First is the growing volume of foreign exchange trading. Second, interest is coming not only from policymakers and experts concerned with the smooth functioning of financial markets. It is shared by those concerned with public financing of development--the fiscal crisis of the state as well as the growing need for international cooperation on problems such as the environment, poverty, peace and security. This work makes a systematic analysis of the proposal for a foreign exchange transactions levy. Its chapters examine the economic desirability of such a levy, its technical and political feasibility, its revenue potential, the possible uses of that revenue, and related administrative and institutional aspects.
Book Synopsis Global Tax Initiatives by : Heikki Patomäki
Download or read book Global Tax Initiatives written by Heikki Patomäki and published by . This book was released on 2007 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Technical and Miscellaneous Revenue Act of 1988 by : United States. Congress
Download or read book Technical and Miscellaneous Revenue Act of 1988 written by United States. Congress and published by . This book was released on 1988 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Currency Transactions Tax, why and how by :
Download or read book A Currency Transactions Tax, why and how written by and published by . This book was released on 1996 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Global Tax Inititatives by : Heikki Patomäki
Download or read book Global Tax Inititatives written by Heikki Patomäki and published by . This book was released on 2007 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Tobin Tax written by Mahbub ul Haq and published by New York : Oxford University Press. This book was released on 1996 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guide to coping with financial volatility should be of interest to academics and economists with interest in finance and international development.
Book Synopsis Potential and Risks of a Financial Transaction Tax by : Heribert Diete
Download or read book Potential and Risks of a Financial Transaction Tax written by Heribert Diete and published by . This book was released on 2010 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the continuing debate on financial reform, transaction taxes are intensively discussed. Especially comprehensive taxes levied on all financial transactions at a low rate have recently been considered. This paper concludes that the implementation of a financial transaction tax (FTT) of 0.01 percent, levied on all transactions including the trading of shares, bonds, currencies and derivatives, is both advisable and feasible. The application of the transaction tax would have two effects: First, it would reduce the size of the financial sector and eliminate some undesired and socially futile activity. Second, the application of the financial transaction tax would generate revenue of about 250 billion dollars, assuming the tax would be applied globally and the reduction of trading activity would be high. It is often argued that financial transaction taxes can only be implemented globally or not at all. In order to avoid the relocation of financial transactions to non-taxing territories (which may be tax havens or other OECD-countries), this paper suggests that a currency transaction tax, also known as the Tobin tax, should be applied at a rate of one percent by likeminded countries, if a global consensus on the implementation of FTT cannot be achieved. The rationale for the second layer of taxation is not the stabilization of exchange rates, but rather the creation of a mild restriction on capital flows in case the achievement of a global consensus on financial transaction taxes will not be possible.
